CVX has lost support at the light blue resistance line, and this light blue trendline has flipped into resistance. CVX is trading above a yellow support level at $131.47. There is neutral price action here, and I think CVX doesn't have a clear direction for now. I would look for buy opportunities at or below the yellow trendline if CVX starts trending down, I think there will be a rebound there. If CVX starts trending up I would monitor for a rejection at the light blue trendline. I think CVX should find a direction within a few weeks, and I'd be happy to revisit the chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.